Lance- in your example, if the public loses confidence in what a PSA 6 really is, the card is going to take a big hit anyway.
Collectors pay enormous premiums for high grade cards and they want to get what they pay for. Sure, some cards in 7 holders may really only be 6's or 6.5's, but the market can tolerate that. All collectors know there is some subjectivity to grading.
But if you were led to believe that the 7 you just purchased was originally in a 3 holder, that just wouldn't cut it. The market won't tolerate that. Nobody will pay $500 for what was previously a $35 card.
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